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Month: June 2024

For child care workers, state aid for their own kids’ care is ‘life-changing’

For child care workers, state aid for their own kids’ care is ‘life-changing’

Elaine S. Povich | (TNS) Stateline.org

SMITHFIELD, R.I. — Child care worker Marci Then, 32, looked over at two 4-year-olds in her care who were tussling over a toy plate in a model kitchen set. “Are we sharing?” she gently asked them. They both let go.

Then works at Little Learners Academy child care center near Providence, Rhode Island. Her daughter, Mila, 4, is enrolled there, so Then is able to keep a watchful eye on her in addition to about a dozen other 4-year-olds. Mila calls her mother “Miss Marci” at school, but “Mom” at home.

Most of the time, Mila is in another room with a different worker at the center, adhering to rules that don’t allow parent caregivers to watch their own children in a licensed setting. But for today, Mila is around her mom for a bit to show a reporter around.

Mila proudly chirps her age, then helps put toys away so the kids can quietly gather for circle time.

Then said that without help she would not have been able to afford the $315 a week for Mila to come to Little Learners. But she is taking advantage of a one-year state pilot program that authorizes the use of federal funds to pay for care for the children of early education workers. read more

Graduate borrowers, consider this student loan plan before July 1

Graduate borrowers, consider this student loan plan before July 1

By Eliza Haverstock | NerdWallet

Starting July 1, the Education Department will limit enrollment in three income-driven repayment (IDR) plans, which cap monthly student loan payments at a certain portion of income and can eventually forgive remaining debt.

The most significant change: The Pay as You Earn (PAYE) plan will close all new enrollment starting July 1. If you’re already on PAYE, you’ll remain on the plan.

“Any borrower who has significant debt and thinks they’re going to get forgiveness under an income-driven plan should look into whether Pay as You Earn is able to save them more money over time,” says Betsy Mayotte, president and founder of The Institute of Student Loan Advisors.

If PAYE is your route to paying the least over time, apply ASAP. As long as you submit a PAYE application before July 1, you’ll get onto the plan if your application is approved, even if that approval comes after July 1, an Education Department spokesperson told NerdWallet on June 6.

Two other IDR plans, the Income-Contingent Repayment (ICR) and the New Income-Based Repayment (New IBR), will also close to certain borrowers in July. read more